Royal Bank of Canada reissued their outperform rating on shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in a report issued on Wednesday, October 25th, Marketbeat Ratings reports.
Several other equities research analysts have also weighed in on the company. Stifel Nicolaus reissued a hold rating and set a $89.00 price objective on shares of Canadian National Railway in a research note on Friday, October 6th. Zacks Investment Research cut Canadian National Railway from a strong-buy rating to a hold rating in a research report on Tuesday, September 26th. Cowen and Company reaffirmed a buy rating and issued a $83.00 target price on shares of Canadian National Railway in a research report on Sunday, September 24th. BidaskClub raised Canadian National Railway from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, Credit Suisse Group reiterated a neutral rating on shares of Canadian National Railway in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Canadian National Railway has an average rating of Hold and an average price target of $79.00.
Shares of Canadian National Railway (NYSE:CNI) opened at $81.00 on Wednesday. The firm has a market capitalization of $60,434.10, a price-to-earnings ratio of 20.98, a PEG ratio of 2.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. Canadian National Railway has a one year low of $62.97 and a one year high of $84.48.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.3304 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.63%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s payout ratio is presently 33.85%.
Canadian National Railway announced that its board has authorized a share repurchase plan on Tuesday, October 24th that authorizes the company to buyback 31,000,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OMERS ADMINISTRATION Corp bought a new position in shares of Canadian National Railway in the second quarter valued at approximately $2,293,000. Eaton Vance Management raised its position in Canadian National Railway by 5,323.4% in the 2nd quarter. Eaton Vance Management now owns 203,757 shares of the transportation company’s stock worth $16,515,000 after purchasing an additional 200,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Canadian National Railway by 5.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 122,795 shares of the transportation company’s stock valued at $9,952,000 after acquiring an additional 5,955 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Canadian National Railway by 9.9% during the 1st quarter. AQR Capital Management LLC now owns 468,923 shares of the transportation company’s stock valued at $34,514,000 after acquiring an additional 42,354 shares during the last quarter. Finally, Fiduciary Trust Co. raised its position in shares of Canadian National Railway by 16.9% during the 2nd quarter. Fiduciary Trust Co. now owns 25,620 shares of the transportation company’s stock valued at $2,077,000 after acquiring an additional 3,700 shares during the last quarter. 54.71% of the stock is currently owned by institutional investors.
Canadian National Railway Company Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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